Trump’s Latest Fan: Buffett Bought $12 Billion In Stocks Since The Election

Trump’s Latest Fan: Buffett Bought $12 Billion In Stocks Since The Election:

Count one of Hillary Clinton’s biggest financial backers, billionaire Warren Buffet, among the biggest fans of the “Trump rally.”

In an interview with Charlie Rose recorded on Friday, Warren Buffett said that since the election day, Berkshire Hathaway bought $12 billion in stock. This was a change in strategy for Buffett, who as it turns out was a net seller in the first nine days of the month, when Hillary seemed like a guaranteed winner in the November election, one which Buffett was selling into.

“We’ve, net, bought $12 billion of common stocks since the election,” he said in an interview with Charlie Rose that aired on Friday. Buffett didn’t identify the securities that he picked. As of Sept. 30, Berkshire had an equity portfolio valued at $102.5 billion.

Read moreTrump’s Latest Fan: Buffett Bought $12 Billion In Stocks Since The Election

Warren Buffett Exits Entire Credit Default Swap Exposure, As Citi’s Appetite For Derivative Destruction Surges

Continue to prepare for collapse. (And maybe support this website if you can.)


Buffett Exits Entire Credit Default Swap Exposure, As Citi’s Appetite For Derivative Destruction Surges:

It was considered one of the bigger paradoxes for years. Back in 2003, Warren Buffett famously dubbed derivatives “financial weapons of mass destruction” and yet over the next several years went ahead and entered a number of the contracts, including both equities and credit, ostensibly by selling CDS to collect up monthly premiums. However, at least when it comes to CDS, after several years of Berkshire trimming its credit derivative exposure, it is now completely out. Meanwhile, Citi is loading up on any CDS it can find…

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Billionaire Warren Buffett Pledges To Drive Voters To The Polls In November

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Billionaire Warren Buffett Pledges To Drive Voters To The Polls In November:

Just when you think this election could not get more ridiculous, with even the Simpsons endorsing Hillary as President, the king of crony capitalism Warren Buffett has offered to drive voters to the polls in November.

According to NBC, Buffett pledged to “take at least 10 people to the polls who otherwise would have had difficulty getting there” on November 8, challenging his congressional district to “give America a civics lesson. Buffet said he even reserved a trolley called “Ollie” Monday. “It seats 32, I’m gonna be on it all day, I’m gonna be doing selfies, whatever it takes.” Where have he heard that last phrase before?

Read moreBillionaire Warren Buffett Pledges To Drive Voters To The Polls In November

Breaking down Warren Buffett’s rosy outlook for America

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Breaking down Warren Buffett’s rosy outlook for America:

There’s something about being insanely rich that people will believe every word that comes out of your mouth no matter how bizarre.

And no, I’m not talking about Donald Trump. Warren Buffett is an even better example.

As one of the richest men in the world, Buffett’s opinions carry almost Biblical impact, even when they might be completely ridiculous.

Read moreBreaking down Warren Buffett’s rosy outlook for America

Slumlord – How Warren Buffet’s Clayton Homes Intentionally Targets & Preys Upon Minorities and Poor People

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Slumlord – How Warren Buffet’s Clayton Homes Intentionally Targets & Preys Upon Minorities and Poor People:

It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.

– Warren Buffett

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He walked them through Clayton-built homes on the lot, then into the sales center, passing a banner and posters promoting one subprime lender: Vanderbilt Mortgage, a Clayton subsidiary. Inside, he handed them a Vanderbilt sales pamphlet.

“Vanderbilt is the only one that finances on the reservation,” he told the women.

His claim, which the women caught on tape, was a lie. And it was illegal.

In minority communities, Clayton’s grip on the lending market verges on monopolistic: Last year, according to federal data, Clayton made 72% of the loans to black people who financed mobile homes.

Read moreSlumlord – How Warren Buffet’s Clayton Homes Intentionally Targets & Preys Upon Minorities and Poor People

Here Come the Cronies – Buffett and Blackstone President Launch $33,400 a Plate Hillary Clinton Fundraiser

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Here Come the Cronies – Buffett and Blackstone President Launch $33,400 a Plate Hillary Clinton Fundraiser:

All you need to know about Warren Buffett can be gleaned from this one sentence he uttered in a Bloomberg interview earlier this year:

Clinton has a vision for America that’s very similar to mine.

Indeed, and that vision is one of crony capitalism and oligarchy. Two things both Buffett and Hillary have a long history of supporting.

As such, he’s busying running a $33,400 a plate fundraiser for this faux populist, along with the President of private equity giant Blackstone. Blackstone, of course, is one of the firms that benefited most from the Obama administration’s banker bailouts, by quickly buying up all the foreclosed homes only to turn around rent them right back to the peasants who were evicted. Here are a few articles on the topic to get caught up.

Read moreHere Come the Cronies – Buffett and Blackstone President Launch $33,400 a Plate Hillary Clinton Fundraiser

Ironic Headline Of The Day: Billionaire Buffett To Stump For Hillary’s “Everyday Americans” Campaign

Ironic Headline Of The Day: Billionaire Buffett To Stump For Hillary’s “Everyday Americans” Campaign:

Warren Buffett – billionaire investor, opposer of Citizens United but major donor to super-PACs, previous fan of Bernie Sanders, and vehement supporter of the ‘fairness doctrine’ on taxes for everyone but himself – will be joining ‘campaigner for everyday Americans’ Hillary Clinton as she stumps in Omaha this month.

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In May 2015, Buffett backed Hillary…

Billionaire investor Warren Buffett is backing Democratic front-runner Hillary Clinton in the 2016 presidential election.

“I think that she is the most likely person to be president of the United States, elected in 2016, and I’m going to vote for her,” Buffett tells the Fox Business Network in an interview that will air Monday evening.

Read moreIronic Headline Of The Day: Billionaire Buffett To Stump For Hillary’s “Everyday Americans” Campaign

Kraft Heinz Laying Off 10% Of Workforce

As expected.

In a “difficult but necessary” decision, Kraft-Heinz will cut 2,600 jobs in the latest post-mega-merger “synergy” bloodbath. Thanks Warren.


Buffett Bloodbath: Kraft Heinz Laying Off 10% Of Workforce:

Back in August, we said “thanks uncle Warren” on the heels of reports which indicated it was time for Kraft employees to do their part to facilitate merger “synergies” in the wake of the Kraft-Heinz tie-up engineered earlier this year by everyone’s favorite folksy octogenarian billionaire along with 3G.

In short, Kraft Heinz said it would lay off 700 workers at Kraft’s corporate headquarters in north suburban Northfield, part of a cost-cutting plan that would slash the combined entity’s headcount in the U.S. and Canada by 2,500 jobs.

Well, on Wednesday we got more of the same with CNBC reporting that Kraft Heinz will close seven plants and lay off 2,600 employees. The company is also reportedly moving Oscar Mayer to Chicago from Wisconsin. Here’s what we know so far

Read moreKraft Heinz Laying Off 10% Of Workforce

“Some People Just Don’t Fit In The Economy” Buffett Explains: “We’ll Send Them Off To Afghanistan”

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“Some People Just Don’t Fit In The Economy” Buffett Explains: “We’ll Send Them Off To Afghanistan” (ZeroHedge, Sep 8, 2015):

Not to be outdone by his partner Charlie Munger (who offended many with his comments that “gold is a great thing to sew onto your garments if you’re a Jewish family in Vienna in 1939,”), Berkshire Hathaway’s Warren Buffett – having already taken on Europe, comparing Greece to a “dog peeing on the carpet” of Europe,
suggesting Germany stop “rewarding behavior you want to get rid of”
– takes aim at the military. Speaking on Bloomberg TV, the octagenerian oracle of offense just unfriended every American veteran

 “You want everybody educated to their potential. You want people to reach their potential. That still won’t work for some people in a highly developed market system.

I mean if this were a sports-based system, you could give me a PhD in football, and I could practice eight hours a day, and I might be able to carry the water from, not onto the field, but from the locker room to the bench. There’s just some people don’t fit well into a highly skilled market-based economy.

They’re perfectly decent citizens. We’ll send them off to Afghanistan, but they are not going to command a big price.”

Read more“Some People Just Don’t Fit In The Economy” Buffett Explains: “We’ll Send Them Off To Afghanistan”